CapitaLand China Trust Posts Lower 1H 2025 Earnings, Seals Retail Asset Sale and Taps Debt Market

SGX Filings09-29

CapitaLand China Trust (AU8U) announced first-half financial results for 2025, reporting gross revenue of approximately one hundred fifty-seven million Singapore dollars, down 6.3 per cent year-on-year, and net property income of about one hundred five million Singapore dollars, 8.1 per cent lower than the prior-year period.

Distribution per unit before retention fell 14.0 per cent to 2.59 Singapore cents, while distribution per unit after retention stood at 2.49 Singapore cents. Aggregate leverage as at Jun, 30 2025 was 42.1 per cent and the interest coverage ratio was 2.9 times. Portfolio committed occupancy was 91.6 per cent.

On Jul, 29 2025 unitholders approved the divestment of CapitaMall Yuhuating for roughly one hundred forty-seven million Singapore dollars and a subscription for a 5 per cent stake in CapitaLand Commercial China REIT’s initial public offering, giving the trust on-shore C-REIT exposure. The final sale price represents an 8.8 per cent premium to the floor price.

In capital-management initiatives, the trust issued three-year renminbi bonds equivalent to about one hundred eight million Singapore dollars at 2.88 per cent in Apr, 2025 and placed one hundred fifty million Singapore dollars of fixed-rate subordinated perpetual securities on Sep, 19 2025. Renminbi-denominated debt now accounts for 41 per cent of total borrowings, with a target of around 50 per cent by Dec, 2025.

The distribution for the period Jan, 01 2025 to Jun, 30 2025 will be paid on Sep, 24 2025. Units will trade ex-distribution from Aug, 06 2025 and the record date is Aug, 07 2025.

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